Dublin, Feb. 22, 2024 (GLOBE NEWSWIRE) -- The "United States Electric Vehicles Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The United States Electric Vehicles Market is undergoing a significant transformation, projected to reach a remarkable value of approximately US$ 391.03 billion by 2030. The industry trends indicate a consistent uptick in the adoption of electric vehicles (E.V.s), driven by the collective push for cleaner and more sustainable transportation options.
This comprehensive research illuminates the current landscape and future outlook of the E.V. market in the United States. With a detailed analysis of market dynamics, including the impact of inflation and growth drivers, the study offers valuable insights into the trajectory of the E.V. industry.
Amid rising environmental consciousness and governmental support for green initiatives, the market is expected to flourish at a CAGR of 11.20% from 2024 to 2030, showcasing the nation's commitment to reducing carbon emissions and fostering economic growth through sustainable practices.
Enhancements in battery technology have been pivotal, showcasing a reduction in charging time and an increase in driving range, thus offering a more versatile and practical solution for consumer needs. This aligns with the dominance of the 151-300 miles range category within the E.V. market, which is fast becoming the preferred choice for American drivers.
In the vehicle segment, passenger cars have spearheaded the U.S. market, further bolstered by technological advancements and robust support from industry giants. The mid-priced vehicle class asserts strong growth, indicating a shift toward mass adoption and market affordability.
Snapshot of United States Electric Vehicle Market Segments
- Battery Electric Vehicles (BEVs) hold a lion's share, leading the charge towards a sustainable automotive future.
- Vehicle ranges categorized into up to 150 miles, 151-300 miles, and above 300 miles, with the mid-range segment capturing consumer preference.
- Mobility options extend across two-wheelers, passenger cars, and commercial vehicles, with passenger cars outpacing other segments.
- Vehicle classes segmented into low-priced, mid-priced, and luxury, with mid-priced vehicles paving the way towards broader adoption.
The industry’s competitive landscape features major players including Tesla, the BMW Group, BYD Company Ltd., and Mercedes-Benz Group AG, which continue to drive innovation and market expansion. Notably, initiatives like Ford's commitment to a US$50 Billion investment carry the promise of rejuvenating the market with electric renditions of iconic models.
This research epitomizes the ongoing progression in the United States towards sleek, zero-emissions vehicles, becoming a testament to the extraordinary growth potential and magnitude of the electric vehicle industry. With in-depth analyses of market shares, growth trends, and commercial opportunities, this report serves as an essential tool for stakeholders seeking to navigate the rapidly evolving electric vehicle landscape.
Key Report Segments:
- Battery Electric Vehicle
- Plug-in Hybrid Electric Vehicle
- Hybrid Electric Vehicle
Range Categories:
- Up to 150 Miles
- 151-300 Miles
- Above 300 Miles
By Vehicle Type:
- Two-Wheeler
- Passenger Cars
- Commercial Vehicles
By Vehicle Class:
- Low Priced
- Mid-Priced
- Luxury
The detailed company analysis section of the report offers a panoramic view of the strategies and developments influencing market leaders and the sector as a whole.
As electric vehicles continue to capture the hearts and wallets of American consumers, this report stands as an authoritative source of information on the burgeoning E.V. market in the U.S., demonstrating the power of electrification in propelling the nation towards a sustainable and prosperous future in mobility.
Companies Mentioned
- Tesla
- BMW Group
- BYD Company Ltd.
- Mercedes-Benz Group AG
- Ford Motor Company
- General Motor Company
- Nissan Motor Co. Ltd.
- Toyota Motor Corporation
For more information about this report visit https://www.researchandmarkets.com/r/jq4lnc
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